Novartis's corporate venturing unit leads the round for the diagnostic imaging company which was set up by UCLA faculty in 2007.
Swiss-based healthcare company Novartis’ corporate venturing unit led a $12.5m round on Monday for Imaginab, a diagnostic imaging company set up by UCLA faculty.
Novartis Venture Funds was joined in the oversubscribed series A round by Merieux Developpement the healthcare investment company of Institut Merieux, a French industrial holding company, and venture investors Nextech Invest and Cycad Group as well as existing seed investor Momentum Biosciences, which is formed by faculty at US university UCLA.
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